UK hedge fund manager GLG Partners, which yesterday announced losses of more than $200m (â¬130m) for the first three months of the year, said it hoped to retain $2bn of the once $7bn of assets in the emerging markets funds run by manager Greg Coffey, who resigned last month.
The value of Coffey's funds has fallen from $7.2bn at the start of the year $6.3bn as a result of investment losses. The largest of the four funds, GLG emerging markets, has suffered an investment loss of 19% for the year to date.
